New Delhi: South Korean Samsung has taken a big leap in the Indian smartphone market. In the second quarter of this year, it was at third place in terms of market share. In the third quarter it has jumped straight to the first position. After this is Apple. Vivo is at number three in the Indian smartphone market. Whereas Xiaomi, which was in first place, has moved to fifth place this time.
Record growth in smartphone market
The data of smartphone sales in India for the third quarter this year i.e. between July to September 2024 was released by Counterpoint Research on Wednesday. According to this report, the smartphone market has grown by a record 12 percent on an annual basis in the third quarter of this year. This is the highest increase in any one quarter. Not only this, the shipment of smartphones has increased by 3 percent during this period.
Samsung on first place
According to this report, Samsung had 22.8 percent market share on value basis during the third quarter. With this it has reached the top position in the market. A quarter before this, the company was in third place with a market share of 18.1 percent. In the third quarter, Apple is in second place with a share of 21.6 percent. In the second quarter of the same year, Apple was not even in fifth place. In the third quarter, Vivo stood third with a market share of 15.5 percent, while Oppo stood fourth with a market share of 10.8 percent.
Big blow to Xiaomi
Xiaomi’s dominance in the Indian smartphone market seems to be ending. Xiaomi was number one during the second quarter this year. At that time its market share was 18.9 percent. In the third quarter, Xiaomi’s market share has declined to just 8.7 percent. With this the company has slipped to fifth position. The market share of other smartphone companies in this quarter was 20.5 percent.
The glory of 5G in smartphones
During the third quarter, 5G smartphones have defeated everyone. It has achieved its highest ever share of 81 per cent in total shipments. “The market is moving towards rapid price appreciation, linked to the premium trend. The market is being supported by attractive EMI offers and trade-in,” said Prachir Singh, senior research analyst at Counterpoint.
Interview between Time.news Editor and Smartphone Market Expert
Time.news Editor: Good morning! Today, we have a special guest with us, Dr. Anjali Mehta, a leading expert in technology market analysis, to discuss the recent developments in the Indian smartphone market. Dr. Mehta, thank you for joining us!
Dr. Anjali Mehta: Good morning! It’s a pleasure to be here and discuss these exciting changes in the smartphone landscape.
TNE: The latest report from Counterpoint Research shows that Samsung has surged to the top of the Indian smartphone market in Q3 2024, overtaking competitors like Apple and Vivo. What do you think fueled this remarkable leap for Samsung?
Dr. Mehta: It’s fascinating, isn’t it? Samsung’s rise can be attributed to several factors. Firstly, they’ve significantly ramped up their product diversity, catering to various segments of the market—from high-end devices to budget options. Additionally, their aggressive marketing strategies and local manufacturing initiatives have resonated well with Indian consumers, contributing to their impressive growth.
TNE: You mentioned product diversity. Can you elaborate on how that impacts consumer decisions?
Dr. Mehta: Certainly! In India, consumers often look for value for money. By offering a range of options—smartphones with excellent cameras, longer battery life, and user-friendly features—Samsung appeals to a broader audience. Their ability to provide devices across different price points ensures that they can capture both youth and professionals, thus maintaining a strong foothold in the market.
TNE: This growth means that Xiaomi has dropped down to the fifth position after previously holding the top spot. What do you think led to this decline?
Dr. Mehta: Xiaomi has faced challenges primarily relating to product saturation and increased competition. While they once thrived on offering feature-rich smartphones at competitive prices, their pace of innovation has slowed. This has opened the door for competitors like Samsung and Vivo, who have been more agile in responding to market demands and trends.
TNE: It’s interesting to see Apple maintaining its position, coming in second. How does Apple’s strategy differ in a market like India, which is so price-sensitive?
Dr. Mehta: Apple adopts a premium strategy globally, offering high-end products. In India, they focus on brand loyalty and a premium user experience. They’ve also started local assembly, which helps in pricing their products more competitively. However, their market presence remains limited compared to Samsung and Xiaomi, primarily because of the higher price point, which does not cater as effectively to the budget-conscious segment of the market.
TNE: The report indicates that the overall smartphone market in India grew by a record 12 percent year-on-year in Q3. What does this growth signify for smartphone manufacturers planning to enter or expand in this market?
Dr. Mehta: This growth is a positive indicator of increased consumer demand, driven by various factors like improved access to affordable 4G/5G networks and a rising middle class willing to invest in technology. For manufacturers, it’s a wake-up call to innovate and tailor their products to meet local preferences. Companies looking to enter the market can benefit by understanding regional trends and consumer behavior, as this can greatly influence their success.
TNE: what trends do you foresee shaping the Indian smartphone market in the near future?
Dr. Mehta: Looking ahead, we can expect to see a continued emphasis on innovation, particularly in areas like camera technology, AI integration, and sustainability in manufacturing. Additionally, the arrival of 5G technology will play a pivotal role in shaping consumer preferences, as they begin seeking devices that fully leverage these capabilities. Lastly, emphasis on software experience—like user interface and customer support—could become even more critical as competition heats up.
TNE: Dr. Mehta, thank you for sharing your insights today. The smartphone market in India certainly holds exciting developments, and we appreciate your expertise in understanding these dynamics.
Dr. Mehta: Thank you for having me! It’s always great to discuss the ever-evolving tech landscape.